Thursday February 1, 2018
Economic Calendar & Watch List
Morning Notes
US Futures are flat while European stocks are slightly higher this morning. FB is up 2% in premarket trading and is pushing markets higher after their earnings report last night. European stocks are also up on stronger than expected earnings reports. The FOMC noted strength in the US economy in their report yesterday and did very little to change their expectation into this year’s forecast. Asian stocks settled the day mixed.
Technicals
The SPY traded on continued weakness throughout yesterday’s session, yet still holding the $280 pivot on accelerated volume. Support will first lie at $280, then the 20EMA at 278.65, followed by $276.13, $274.10, $272, $270.65, and the 50SMA at $270.30. Support continues at the top of the recent consolidation at $268.80, followed by ascending support which falls at $267.39, then the low of the recent consolidation at 267, then a short term pivot at $265.82, a recent swing low pivot at $262.71, and the 100SMA at $262.21. Resistance will lie at $284.10 then all time highs at $286.63.
Small Cap Watch List
*Please refer to the momentum scanners displayed live in the chat room for potential plays at the market open.
**Others On Watch**
BABA, FB, PYPL
Economic Calendar
8:30 Weekly Unemployment Claims, expected 235k
10:00 ISM Manufacturing Index
Notable Earnings Before Open
Alibaba (BABA) – EPS Est. $1.45
Mastercard (MA) – EPS Est. $1.12
United Parcel Service (UPS) – EPS Est. $1.65
Cigna (CI) – EPS Est. $1.87
Notable Earnings After Close
Apple (AAPL) – EPS Est. $3.81
Alphabet (GOOGL) – EPS Est. $10.12
Amazon.com, Inc. (AMZN) – EPS Est. $1.85
Visa Inc. (V) – EPS Est. $0.98
